`Zuckerberg drops off world’s top 40 billionaires list`
Washington: Facebook co-founder Mark Zuckerberg has dropped off Bloomberg`s list of the richest 40 billionaires in the world after his social networking firm’s disastrous launch on the US stockmarket.
Earlier, Bloomberg`s Billionaire Index had declared Zuckerberg the 29th richest person on Earth after Facebook Inc. sold 421.2 million shares valued for 38 dollars each.
But now, the Facebook founder has fallen off the list entirely, The Los Angles Times reports.
Zuckerberg`s net worth reached a peak of 19.4 billion dollars on May 18, the first day of the Facebook IPO, when shares of the company closed at 38.23 dollars.
By Tuesday, Facebook shares had dropped to just 28.84 dollars a share, and Zuckerberg`s fortune was down to 14.7 billion dollars.
Bloomberg`s index measures only the wealth of the top 40 richest people in the world, and as of now, Zuckerberg is 800,000 dollars behind the current No. 40 on the list, Luis Carlos Sarmiento, a Columbian businessman.
More from India
More from World
More from Sports
More from Entertaiment
- Is this for real: Ajinkya Rahane bizarre shot went for six, concerned Virat Kohli settles with smile — WATCH
- WATCH: Tom Latham takes IMPOSSIBLE catch to dismiss Faf du Plessis
- Azam Khan demands ban on cow slaughter across India, says Muslims should stop eating beef
- Asaduddin Owaisi asks Centre to clarify policy on buffalo meat export, Nirmala Sitharaman gives apt reply
- Sunil Grover to return as Dr Mashoor Gulati!